Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Family savings 'dwarfed' by credit card charges

Credit card charges and commitments are dwarfing many family's savings and there has been a rise in the number of people turning to unsecured borrowing.

Such is the opinion of Joanna Parsley, associate director of Credit Action, a national money education charity established in 1994.

She said: "Even though savings levels have increased slightly, the amount an average family has saved is still dwarfed by their credit commitments.

"With a rise in unsecured borrowing, it is vital that families are looking to manage their money well through budgeting and seeking free and independent help where necessary."

Ms Parsley added that a recent report by Aviva showed that the average family now has higher levels of unsecured debt than they did in January.

Her comments follow the latest ING Direct Consumer Savings Monitor, which showed that the savings balance of the average Brit now stands at £1,783, which is £100 less than the same quarter last year.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide